Founder Thesis

Commercial real estate means office space and investing in commercial real estate is a missed opportunity for Indians. Aryaman speaks to Akshay Datt about why it’s a missed opportunity, the emerging trends, and how Myre Capital, India’s first neo-realty investment platform, is disrupting this space and creating a very unique asset for average Indians. Invest in this episode to find out!Know about:- Identifying gaps in India’s real estate market Zero to One Journey Monetization strategy Role of technology in business processes

“The customer's head has to be bursting for my product."This powerful insight from Pankaj Vermani captures the core philosophy that drove Clovia's success. Instead of building a "vitamin" (a good-to-have product), the founders focused on creating an "aspirin"—a must-have solution for the acute "headaches" of poor fit, lack of choice, and a broken shopping experience that plagued the Indian lingerie market.Neha Kant and Pankaj Vermani are the co-founders of Clovia, the revolutionary innerwear brand acquired by Reliance Retail for ₹950 crore (approx. USD 125 million). Pankaj, an IIT-Delhi graduate and 3x founder , and Neha, a seasoned sales and marketing leader from the India Today Group , built a tech-first brand that serves over 5 million women and sells an item every two seconds.Key Insights from the Conversation: Solving the Product Problem First: The core of Clovia's strategy was to fix the fundamental product gap in the market before anything else, resisting distractions to stay focused on this mission. Data-Driven, Agile Supply Chain: Clovia built a proprietary tech stack and AI engine called "Monk" to manage a complex inventory of over 2,000 styles. This allows them to test new designs with small batches (as low as 250-500 pieces) and scale winners rapidly, keeping over 80% of their inventory less than 45 days old. A Contrarian "Make in India" Bet: Instead of importing, they built an ecosystem of local, captive manufacturers. This initially difficult path gave them shorter lead times and the agility needed to cater to India's diverse, hyperlocal demands. The Power of Retention: With a belief that "retention is business, everything else is marketing," Clovia focused on building deep customer trust through a feedback-led design process and tools like their Fit Test, resulting in an impressive 55% repeat purchase rate.Chapters: 00:01:32 - Pankaj's Early Exposure to Lingerie Retail & Key Lessons 00:04:52 - Pankaj's Ed-Tech Startup & The "Aspirin vs. Vitamin" Thesis 00:06:56 - Neha's "Aha!" Moment: The Problem with Indian Lingerie 00:15:50 - The Contrarian Bet: Building an Agile "Make in India" Supply Chain 00:23:51 - Clovia's Tech Backbone: The AI-Powered Planning Engine 00:34:23 - Building the Brand: Customer Acquisition & The Philosophy of "Joy" 00:50:06 - The Challenges of Scaling & Balancing Ops with Growth 00:55:08 - The Omnichannel Play: Why Clovia Went Offline 01:03:30 - Using Data Offline: The "Trial to Sales" Ratio 01:11:23 - The Future Roadmap: New Categories, Geographies & Brand Building#Clovia #NehaKant #PankajVermani #D2C #StartupIndia #FounderThesis #MakeInIndia #FashionTech #RetailTech #Entrepreneurship #Lingerie #IndianStartups #Reliance #BusinessStrategy #SupplyChain #Ecommerce #DataAnalytics #AIinRetail #BrandBuilding #CustomerExperience #Omnichannel

"The idea is to create a... boringly predictable company."In a startup ecosystem that fetishizes disruption, Amrit Acharya’s goal for Zetwerk is refreshingly different. In this episode, he explains why in the chaotic, high-stakes world of global supply chains, being "boringly predictable" is not a lack of ambition; it is the ultimate value proposition and the most profound form of disruption.Amrit Acharya is the Co-Founder and CEO of the global manufacturing platform, Zetwerk. Starting the company in 2018, he scaled it to a unicorn in just three years, with Zetwerk now commanding a valuation of over $2.7 billion. Under his leadership, the company achieved over ₹11,400 crores in revenue in FY23 and has become a pivotal force in the global "China Plus One" supply chain shift. An alumnus of the prestigious IIT Madras and UC Berkeley's Haas School of Business, Amrit's journey is a masterclass in identifying deep-seated industry problems and building a technology-first solution to solve them at a global scale.Key Insights from the Conversation: The Power of the Pivot: Zetwerk's success was built on two rapid and critical pivots in its first year—first, from a SaaS tool to a B2B marketplace, and second, to a full-stack "managed marketplace" that takes complete ownership of manufacturing outcomes. Asset-Light, Technology-Heavy: Zetwerk's core model leverages a global network of over 10,000 manufacturing partners without owning the factories, providing "virtually unlimited manufacturing capacity" powered by its proprietary software. The "Manufacturing OS": The company's moat is its integrated technology stack—a central operating system that manages the immense complexity of transforming digital designs into physical products across hundreds of suppliers and projects simultaneously. Solving for Predictability: The biggest challenge in Indian manufacturing isn't a lack of quality but a lack of predictability. Zetwerk tackles this by providing its suppliers with software.Chapters:(00:00) Introduction(03:40) The Genesis of Zetwerk: Solving a Personal Pain Point at ITC(06:58) The Initial Idea: Building a Software to Digitize Manufacturing(10:15) The First Pivot: Why the SaaS Model Failed in the Real World(13:41) The Second, Game-Changing Pivot: From Marketplace to Managed Marketplace(18:02) Why a Pure Marketplace Model Doesn't Work for Indian Manufacturing(22:47) Solving the Supply-Side Puzzle: The Power of Financing & Software(28:17) How Zetwerk's "Manufacturing OS" Simplifies Complex Production(49:04) The Biggest Challenge in Indian Manufacturing Isn't Quality, It's Time(52:48) Zetwerk's Big Bet on Electronics Manufacturing in India(57:14) The Playbook for Profitability and a $2.7B Valuation(59:44) Why Scale is the Ultimate Moat in the Manufacturing Business(01:01:25) Zetwerk's Global Vision: Built in India, for the WorldHashtags:#FounderThesis #StartupPodcast #AmritAcharya #Zetwerk #MakeInIndia #Manufacturing #B2BMarketplace #SupplyChain #StartupIndia #Unicorn #VentureCapital #Entrepreneurship #MadeInIndia #Leadership #BusinessStrategy #TechStartup #SupplyChainManagement #DigitalTransformation

"If you are a private market investor, when you're looking at different sectors, you literally have to build the whole stack yourself."This powerful insight from Neha Singh, Co-founder & CEO of Tracxn, highlights the fundamental problem Tracxn solves. Unlike public market investors who have tools like Bloomberg, private market investors faced a significant data gap, a void Tracxn was built to fill by providing comprehensive intelligence on startups and private companies.Meet the guests: Neha Singh: Co-founder & CEO of Tracxn. An IIT Bombay gold medalist and Stanford MBA, Neha identified the need for Tracxn while at Sequoia Capital. She leads a company that now tracks millions of private companies, went public in 2022, and earned ~70% of its FY23 revenue from international markets. Abhishek Goyal: Co-founder of Tracxn. An IIT Kanpur alumnus, Abhishek brought experience from Yahoo, Amazon, and Accel Partners, where he was part of Flipkart's seed round investment. His first startup, UrbanTouch, was acquired before he co-founded Tracxn, which now serves a global clientele and reported revenues of ₹827.71 million in FY24.Key Insights from the Conversation: Solving a Personal Pain Point: Both Neha and Abhishek experienced the difficulty of accessing private market data firsthand during their venture capital careers, which became the direct inspiration for Tracxn. The "Bloomberg for Private Equity": Tracxn aims to provide a level of data depth and accessibility for private markets comparable to what Bloomberg offers for public markets. Global Ambition from India: Tracxn was built with a global vision from India, strategically leveraging local talent to serve an international customer base from its inception. Evolution of Private Markets: The private market landscape has significantly matured, with increased LP allocation and a surge in the number of unicorns, underscoring the need for robust data platforms.Chapters (Estimated Timestamps): 00:00:00 - Introduction: The Problem with Private Market Data 00:02:15 - Meet Neha Singh & Abhishek Goyal: The Minds Behind Tracxn 00:05:30 - Neha's Journey: From Sequoia to Identifying Tracxn's Need 00:09:45 - Abhishek's Path: Tech, Investing, and Early Entrepreneurship (UrbanTouch) 00:15:10 - The Genesis of Tracxn: A Shared Vision 00:20:05 - Understanding the Private Investment Landscape & LP Allocations 00:28:30 - Tracxn's Initial Strategy: Sector Focus and US Market Entry 00:35:50 - Building the Data Engine: Tech and Human Expertise at Tracxn 00:42:10 - Scaling Global Operations from India 00:48:00 - The Future of Private Market IntelligenceHashtags for YouTube Description:#Tracxn #PrivateMarketIntelligence #StartupData #VentureCapital #InvestmentResearch #SaaS #IndianStartups #Entrepreneurship #FounderThesis #NehaSingh #AbhishekGoyal #Fintech #DataAnalytics #MakeInIndia #GlobalBusiness #StockMarket #IPO #TechPodcast #BusinessPodcast #StartupInvesting #PrivateEquity

"Entrepreneurs need to have a healthy dose of delusion." This striking insight from Bhavin Turakhia underscores the immense self-belief and resilience required to navigate the uncertainties of building businesses from the ground up. He explains that this mindset is crucial when facing the vast "unknown unknowns" in the early stages of any venture.Bhavin Turakhia is a highly successful serial tech entrepreneur who co-founded Directi in 1998 with his brother, a venture they bootstrapped and later exited for $160 million in 2014. Since then, he has founded Zeta, a banking tech unicorn; Titan, a business email suite valued at $300 million after a $30 million investment from Automattic; and Radix, a domain registry business he started with a $25 million investment, now valued at around half a billion dollars. His journey is a testament to identifying market gaps and building scalable tech solutions.Key Insights from the Conversation: The Four Phases of Business Building: Bhavin outlines his framework for taking a business from idea to maturity: Planning, Discovery, Scaling, and Steady State, each with distinct deliverables and levels of founder involvement. Solving for "10x Better": A core tenet of his product philosophy is to create solutions that are demonstrably 10 times better than existing alternatives to solve a clear customer problem for a specific persona. Importance of Market Selection: While focus is crucial, Bhavin emphasizes selecting the right market with significant potential, as some industries have inherent upper limits on growth and valuation. Profitability and Bootstrapping: Directi was profitable from early on and never raised external capital, showcasing a path of sustainable growth. Building "Business in a Box": A key strategy for scaling Directi's reseller business globally was providing a comprehensive platform that enabled partners to easily start and run their own web presence businesses. Legacy Tech Disruption: Zeta's mission is to modernize the banking industry by replacing outdated, monolithic core banking systems with a flexible, cloud-native, microservices-based platform.Chapters: 0:00:00 - The Pioneer of India's Startup Landscape 0:01:56 - Early Influences: From Biographies to Building Businesses 0:05:26 - The Genesis of Directi: Identifying Early Internet Needs 0:15:16 - Scaling Directi: Profitability Without External Funding 0:22:33 - Navigating Product Failures & Pivots: Lessons Learned 0:26:34 - The Strategic $160M Sale of Directi 0:29:45 - Radix: Building a Domain Registry Powerhouse 0:33:52 - Titan: Reimagining Business Email for SMBs 0:44:02 - Zeta: The Ambitious Journey to Modernize Banking Tech 1:02:02 - Securing Key Partnerships & Funding (Sodexo, SoftBank, HDFC) 1:08:12 - Bhavin's Playbook for Organization Building & Hiring Talent 1:10:48 - Approach to Investing: Building vs. Passive InvestingHashtags for YouTube Description:#BhavinTurakhia #FounderThesis #IndianStartups #Entrepreneurship #TechEntrepreneur #Zeta #TitanEmail #Radix #Directi #Bootstrapping #SaaS #FintechIndia #BankingTech #StartupJourney #ProductMarketFit #ScalingBusiness #VentureCapital #Leadership #BusinessStrategy #Innovation #Podcast #AkshayDatt

After a successful entrepreneurial stint in the US, Anil headed to India when he realized the bigger opportunity in digital lending lay here. Vivifi is built with the mission of offering formal credit to the millions of Indians outside the umbrella of institutionalized banking. He talks about his learnings, differences between Indian and American regulations. This conversation is a masterclass on building a lending business with a regulatory framework, something very few companies have managed to pull off.Know about:- Rocking the American dream Synthetic fraud Building the flagship product Future expansion plans

Growing up in a small town, Vivek personally experienced the lack of adequate access to healthcare services, which motivated him to build a pharmacy e-commerce business that tackles the same. Saveo enables local pharmacies to serve customers better by providing them with easy access to a wide range of medicines as well as educating them with knowledge and best practices. If you want to build a sustainable startup, then this is a conversation you must not miss.Know about:- The problem of prescription bounce Fundraising and scaling up Converting pharmacy to modern community centre Future expansion plans

Think of having the flexibility of eCommerce, home trial, home delivery of a bike, and being able to pay a monthly subscription rather than an outright purchase - this is what OTO Capital is enabling. Sumit is a serial entrepreneur who had previously scaled the used 2-wheeler platform CredR to its peak. Listen on for tips on identifying opportunities and expanding businesses.Know about:- Ideation phase Zero to One journey Solving the capital supply problem and scaling up Customer acquisition strategy

Bizongo is not a B2B platform; it's a FinTech company disguised as one.This is the core, non-obvious insight into Bizongo’s genius. By creating a platform to digitize the messy world of B2B trade, they built a machine to generate proprietary transaction data—an asset nobody else had. Sachin Agrawal reveals how this data became the key to solving the single biggest problem for Indian SMEs: access to working capital.Sachin Agrawal is the Co-Founder of Bizongo, a B2B trade enablement platform revolutionizing India's SME manufacturing ecosystem. An IIT Bombay graduate, Sachin has masterfully scaled Bizongo to a near-unicorn valuation of $980 million. Under his leadership, the company facilitates an annualized $800 million in revenue with a lean team of just over 260 people and has unlocked over $600 million in crucial supply chain financing for thousands of SMEs. His journey has earned him recognition in prestigious lists like Forbes India 30 Under 30 and FORTUNE India 40 Under 40.Key Insights from the Conversation: The Full-Stack Moat: Bizongo’s competitive advantage lies in its integrated "Golden Triangle" model, combining Commerce (BizongoBuy), Embedded Finance (BizongoFin), and Logistics (BizongoShip) to manage the entire trade lifecycle. Solving the Real Problem: The biggest challenge for Indian SMEs isn't discovery, but securing working capital to fulfill orders. Bizongo’s core innovation was to use its platform's transaction data to de-risk lending for banks and NBFCs. The Power of the Pivot: The early decision to abandon a low-margin commodity marketplace and focus on the complex, customized goods sector was the single most important moment in the company's history. Leadership Through Radical Candor: True trust in a high-growth startup is forged not through superficial harmony but through a culture of direct, honest, and often confrontational feedback. Extreme Capital Efficiency: By building a self-serve, tech-first platform, Bizongo has achieved immense scale and profitability at a small scale, with an impressive revenue-per-employee ratio.Chapters:[00:00] Intro[01:46] The Initial Vision: Building the "Amazon for B2B"[05:49] Securing Early Funding from Accel & Chiratae[18:38] Evolving the Business Model & Monetization[22:33] How Bizongo's Bill Discounting De-risks SME Lending[31:02] The SME-Side Product: Digitizing the Entire Order Lifecycle[39:46] "Life Coming Full Circle": Launching an Open Marketplace[47:42] Bizongo's Scale & Incredible Capital Efficiency[52:52] Strategy for Growth: New Categories & Geographies[59:37] Learning Leadership the Hard Way & Using Executive Coaching[1:04:02] Sachin's Management Philosophy: The "Why, What, How" FrameworkHashtags:#FounderThesis #Bizongo #SachinAgrawal #StartupIndia #Entrepreneurship #B2B #SaaS #Fintech #SupplyChain #VentureCapital #MakeInIndia #StartupJourney #Leadership #BusinessStrategy #BusinessPodcast #AkshayDatt #IITBombay

Every company is going to be a Fintech company- Prabhtej talks about the Fintech revolution that India is experiencing and how Falcon is selling shovels in the gold rush. Falcon facilitates fintechs, startups, and BFSI firms in introducing new financial solutions. Tune in to know how this embedded finance start-up is disrupting the way of building modern fintechs!Know about:- Figuring out the whitespace Shifting focus from B2B to B2C Concept of payment processing Revenue model